A Picasso masterpiece commands a historic $139M at Sotheby’s, signalling robust collector confidence in iconic artworks. Concurrently, Shanghai’s premier art fairs draw crowds, testament to the city’s burgeoning role in the global art scene. Art Jakarta expands its international reach, while Kyoto’s art fair leverages the city’s Zen heritage for a serene cultural experience. Amidst this dynamic landscape, Artprice’s report reveals a resilient contemporary art market, as Google invites the public to engage with art in new, open spaces.
Picasso Masterpiece Sets Records at USD 139 Million
The elusive 1932 painting Femme a la montre (Woman with Watch) went under the hammer at Sotheby’s New York auction on Wednesday, becoming the most valuable work of art auctioned this year. It depicts Picasso’s infamous secret lover, Marie-Therese Walter, who in the painting proudly displays the titular wristwatch. The work was part of the monumental collection from late philanthropist Emily Fisher Landau, which was valued at a whopping USD 400 million. It also sets the record as the second most-expensive Picasso painting to sell at auction, the first being Les femmes d’Alger which was sold at USD 179.3 million in 2015.
Shanghai Art Fair Expects ‘Hot Scene with Crowds’
This week, Shanghai has been overrun by art enthusiasts, all looking to participate in Shanghai’s two biggest art fairs: West Bund Art & Design andd ART021 Contemporary Art Fair, the pinnacle of the 5th Shanghai international Artwork Trade Week. ART021, in particular, dominates with its lineup of 150 domestic and international galleries and more than 10,000 artworks, 70% of whom hail from China. West Bund Art & Design, likewise has brought together 171 exhibitors with a greater international focus, including big brand names like Hauser & Wirth, Ota fine Arts, Pace Gallery, White Cube and more. There, visitors can find blue-chip works by Yayoi Kusama, Damien Hirst, Egon Schiele, Gustav Klimt, as well as plenty of well-known Chinese artists .
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Art Jakarta Returns Bigger and Better
Southeast Asian art enthusiasts all around the globe are looking forward to the return of Art Jakarta, a weeklong showcase of contemporary art happening next week from November 17 to 19. Held at the Jakarta International Expo in Jemayoran, the fair showcases 68 participaing galleries, 29 of which are international labels hailing from Australia, China, Japan, Taiwan, Vietnam and Russia, to name a few. The fair is supported by Swiss wealth management group Julius Baer, as well as UOB Indonesia who will be showcasing the winning pieces from its Painitng of the Year competition.
Kyoto Art Fair Embraces Zen Buddhist Temples
Art from Art Collaboration Kyoto (ACK) seeks to promote the city as a contemporary art hotbed, featuring a unique approach which scatters art across its distincitve alleyways and world-famous Zen Buddhist temples. For instance, an exhibition by up-and-coming Japanese artist Niwa Yuta, which features gold leaf, ink and charcoal paintings, has been installed in the prominent Komyo-in Temple, with art collectors and curators engaging in a monk-led meditation session before heading in to see the works. In so doing, the curators of ACK hope to capture greater international attention and distinguish their programmes from conventional art fair templates.
Artprice Publishes Encouraging Report on Contemporary Market
Last month, the art market data platform Artprice published its annual contemporary art report, showing that the market has grown by a whopping 2200% since 2000, as well as greater participation rate from international markets and a growing volume of works sold over time. The report indicates a global turnover of $2.3 billion in the last year, which indicates the 4th best performance in the history of the Contemporary art market.
Google Campus Opens Access to Art Collection
In an exciting move, Google has pioneered a new visitor center at the heart of its lush headquarters in Mountain View, California, which is aimed at providing a relaxing and safe urban space for both employees and members of the public. As the campus is set in the midst of verdant green spaces, the company has put up several large-scale, eye-catching sculptural from their renowned collection, such as Quantum Meditation II by Julian Voss-Andreae, an ephemeral human figure made from vertical slabs of steel. Another work, titled Curious by Feguson art, utilities 160,000 copper-coloured pennies to replicate the remarkable shape of the grizzly bear.
